Vietnam gold price rises

Saigon Jewelry Company gold bar went up 0.36% to VND140.6 million (US$5,332.93) per tael.

Gold ring increased by 0.51% to VND137.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Bullion has gained 67% since the beginning of the year.

Globally gold hit a record high on Tuesday as there were no signs of a reprieve from an impasse between the two houses of the U.S. Congress that has led to a government shutdown, while near-certain bets of a U.S. rate cut this month also lent support, Reuters reported.

Spot gold was up 0.1% at $3,962.63 per ounce by, after hitting an all-time high of $3,977.19 earlier in the session. U.S. gold futures for December delivery gained 0.2% to $3,985.30.

Gold has climbed 51% globally so far this year on strong central bank buying, increased demand for gold-backed exchange-traded funds, a weaker dollar and growing interest from retail investors seeking to hedge amid rising trade and geopolitical tensions.